I just took a spin through the prospectus for Porter's IPO. It is very interesting reading, particularly the fact that after operating for 3.5 years the company is not making money. This is so even with a monopoly on the island airport and operating in Canada's largest financial centre while marketing to business travelers. Also despite the fact that it spends almost as much on sales and marketing than it does on fuel.

What's going to happen if/when the monopoly is broken? According to its own 2009 figures, there were approximately 34 passengers per flight. The Q400 holds 75 passengers.

This is quite a business plan. No wonder the IPO is happening now.

Debra